SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 1.090+3.8%Nov 14 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Steve Fancy who wrote (8681)10/1/1998 10:18:00 AM
From: Steve Fancy  Read Replies (1) of 22640
 
Brazil dlr outflow fell to $156 mln on Wed-dealers

Reuters, Thursday, October 01, 1998 at 09:14

SAO PAULO, Oct 1 (Reuters) - Brazil's dollar outflow from
the foreign exchange markets dropped to $156 million on
Wednesday on expectations of some foreign inflows and as
players opted to remain quiet before Sunday's elections,
dealers said.
A meager $14 million fled the commercial market while $142
million left the floating market.
Outflows on Tuesday totaled $455 million.
Brazil has lost more than $30 billion from its currency
markets since the beginning of August as global investors have
pulled out their money on the back of a grave emerging market
crisis.
In the month of September alone, a net $18.876 billion left
the Brazilian forex markets, one of the biggest monthly
outflows in history.
It was not clear how much money had entered the country on
Wednesday, but dealers suspected some foreign companies had
financed their purchases in recently privatized Brazilian
companies.
Dealers said the wave of dollar outflows was expected to
continue today, although players were unlikely to take huge
currency positions ahead of the general elections on Sunday.

Copyright 1998, Reuters News Service
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News